The cost of living in these Texas cities is one of the lowest in the US, ranking says
A pair of Texas cities ranked among the best for cost of living in the United States, according to a national real estate website.
Realtor.com recently released its list of cities where you get the most out of your dollar. McAllen ranked No. 1 overall and El Paso was No. 10 on the list for manageable cost of living.
The company ranked cities using data from the Bureau of Economic Analysis, specifically looking at regional price parities.
The company found that for the usual $100 of necessities, like household bills and groceries, McAllen residents usually pay $86.92. The company also reported the median home price in the city to be $275,000.
“McAllen’s location close to the Mexico border has fueled a trade-based economy and manufacturing jobs,” says real estate agent Cara Ameer. “There is no income tax in Texas, and property taxes are lower in McAllen. There is plenty of land on which to develop, which helps keep prices more affordable. In addition, McAllen has a lower cost of living, so that coupled with job opportunities helps create a more affordable environment.”
El Paso, which rounded out the ranking, saw locals paying an average of $91.21 for necessities with a median home price of $298.125, according to the website.
“It still has a low cost of living, and housing costs are reasonable,” the website said.
Realtor.com’s cities with the lowest cost of living
Here are Realtor.com’s 10 U.S. cities where you’ll get the most “bang for your buck.”:
- McAllen, Texas
- Wichita
- Little Rock, Arkansas
- Toledo, Ohio
- Scranton, Pennsylvania
- Dayton, Ohio
- Tulsa, Oklahoma
- Akron, Ohio
- Birmingham, Alabama
- El Paso, Texas
This story was originally published November 6, 2024 at 2:00 PM.